Alcoa Co. (NYSE:AA) Short Interest Update

Alcoa Co. (NYSE:AAGet Free Report) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 13,180,000 shares, an increase of 11.3% from the February 29th total of 11,840,000 shares. Based on an average daily volume of 6,110,000 shares, the short-interest ratio is presently 2.2 days. Approximately 7.4% of the shares of the stock are short sold.

Alcoa Stock Up 4.8 %

Shares of NYSE:AA opened at $35.64 on Wednesday. The firm’s 50-day moving average is $29.29 and its two-hundred day moving average is $28.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. Alcoa has a 1 year low of $23.07 and a 1 year high of $42.95. The firm has a market capitalization of $6.40 billion, a PE ratio of -9.76, a price-to-earnings-growth ratio of 2.70 and a beta of 2.47.

Alcoa (NYSE:AAGet Free Report) last announced its earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.29. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the prior year, the firm earned ($0.70) EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. Analysts predict that Alcoa will post 0.29 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were issued a $0.10 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.12%. Alcoa’s dividend payout ratio (DPR) is presently -10.96%.

Insider Transactions at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Alcoa

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fairfield Bush & CO. purchased a new position in shares of Alcoa in the 1st quarter valued at $29,000. Neo Ivy Capital Management acquired a new stake in Alcoa during the 2nd quarter worth approximately $27,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Alcoa during the fourth quarter worth $32,000. ICA Group Wealth Management LLC acquired a new stake in Alcoa in the fourth quarter valued at about $36,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Alcoa in the 4th quarter valued at approximately $31,000.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Morgan Stanley increased their price target on shares of Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a research note on Thursday, January 18th. StockNews.com cut Alcoa from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. lifted their target price on Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. B. Riley lowered their price target on Alcoa from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, December 12th. Finally, Bank of America boosted their price objective on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Alcoa currently has a consensus rating of “Hold” and a consensus price target of $30.88.

Read Our Latest Report on Alcoa

Alcoa Company Profile

(Get Free Report)

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.

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